Charter Trust Co Lowers stake in Applied Materials (AMAT)

Applied Materials (AMAT) : Charter Trust Co reduced its stake in Applied Materials by 0.93% during the most recent quarter end. The investment management company now holds a total of 89,535 shares of Applied Materials which is valued at $2,513,247 after selling 840 shares in Applied Materials , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Applied Materials makes up approximately 0.29% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , Augustine Asset Management Inc reduced its stake in AMAT by selling 7,700 shares or 41.4% in the most recent quarter. The Hedge Fund company now holds 10,900 shares of AMAT which is valued at $305,963. Applied Materials makes up approx 0.23% of Augustine Asset Management Inc’s portfolio.Fox Run Management L.l.c. reduced its stake in AMAT by selling 18,200 shares or 63.19% in the most recent quarter. The Hedge Fund company now holds 10,600 shares of AMAT which is valued at $303,584. Applied Materials makes up approx 0.18% of Fox Run Management L.l.c.’s portfolio.British Columbia Investment Management Corp reduced its stake in AMAT by selling 122,040 shares or 16.64% in the most recent quarter. The Hedge Fund company now holds 611,175 shares of AMAT which is valued at $17,504,052. Applied Materials makes up approx 0.18% of British Columbia Investment Management Corp’s portfolio.Morgens Waterfall Vintiadis Co Inc boosted its stake in AMAT in the latest quarter, The investment management firm added 78,000 additional shares and now holds a total of 165,000 shares of Applied Materials which is valued at $4,725,600. Applied Materials makes up approx 4.27% of Morgens Waterfall Vintiadis Co Inc’s portfolio.Algert Global boosted its stake in AMAT in the latest quarter, The investment management firm added 32,624 additional shares and now holds a total of 74,849 shares of Applied Materials which is valued at $2,143,675. Applied Materials makes up approx 0.63% of Algert Global’s portfolio.

Applied Materials opened for trading at $27.95 and hit $28.405 on the upside on Friday, eventually ending the session at $28.07, with a gain of 0.75% or 0.21 points. The heightened volatility saw the trading volume jump to 1,21,38,271 shares. Company has a market cap of $30,341 M.

On the company’s financial health, Applied Materials reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.48. The company had revenue of $2821.00 million for the quarter, compared to analysts expectations of $2838.86 million. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Investors should note that on Sep 8, 2016, Applied Materials announced a cash dividend of $0.1000. The company’s management has announced Nov 22, 2016 as the ex-dividend date and fixed the record date on Nov 25, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on Applied Materials. Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $28 .Company shares were Reiterated by Cowen on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 32.50 from a previous price target of $26 .Company shares were Reiterated by Stifel on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $28 .

Applied Materials Inc. (Applied) provides manufacturing equipment services and software to the global semiconductor flat panel display solar photovoltaic (PV) and related industries. Applied operates in four segments: Silicon Systems Group Applied Global Services Display and Energy and Environmental Solutions. The Silicon Systems Group segment develops manufactures and sells manufacturing equipment used to fabricate semiconductor chips. The Applied Global Services segment encompasses services products and integrated solutions to optimize equipment and fab performance and productivity. The Display Segment includes products for manufacturing liquid crystal displays organic light-emitting diodes and other display technologies for televisions personal computers tablets smartphones and other devices. The Energy and Environmental Solutions segment includes systems for manufacturing wafer-based crystalline silicon cells and modules.

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